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Emerging-Market Currencies Soar

Investors Push U.S. Dollar Lower, Further Fueling Tensions Among Economies Competing on Exports

By

David Wessel

Updated Oct. 15, 2010 12:01 a.m. ET

Currency markets, seeing few signs global financial officials made progress in defusing tensions in last weekend's talks in Washington, Thursday resumed their seemingly relentless determination to push down the U.S. dollar, particularly against currencies of emerging markets.

A Commerce Department report that U.S. imports in August grew much more rapidly than exports, widening the trade deficit, added to downward pressure on the dollar. Also weighing on the U.S. currency is the widespread expectation that the Federal Reserve...